EMPHASISING WAQF FOR ECONOMIC DEVELOPMENT

KUALA LUMPUR, 9 April – Yayasan Waqaf Malaysia (YWM) in collaboration with IBFIM, Bank Islam Malaysia Berhad (BIMB) and Pusat Wakaf MAIWP Sdn. Bhd. organised “WAQF: AN ECONOMIC PERSPECTIVE” forum on 9 September 2018 at Sasana Kijang, BNM.

Waqf is an endowment made by a Muslim to a religious, educational, or charitable cause. The main objective of the forum is to define and suggest how waqf can be utilised as a catalyst for economic development without jeopardising its position in Malaysia’s constitution.

The keynote address entitled “Waqf: An Economic Perspective” delivered by Encik Marzunisham Omar, Assistant Governor, BNM, shared some thoughts on the relevance of waqf and three strategies to unlock its full potential to benefit our country. The strategies are to broaden waqf assets and their applications, to ensure that we achieve the goals of social equity and economic efficiency in the operationalisation of waqf projects and to professionalise and modernise waqf management.

A discussion on Waqf as instrument in mobilising Muslim wealth was the main agenda moderated by Dato’ Prof. Dr. Sudin Haron, CEO Yayasan Waqaf Malaysia with panelists of Tan Sri Dato’ Abdul Wahid Omar, Group Chairman of PNB, Dato’ Haji Mohd Redza Shah Abdul Wahid, CEO, Bank Muamalat Malaysia Berhad, and Tan Sri Khalid Ibrahim, Chairman of Economic Cluster, Majlis Perundangan Islam.

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